Granite Real Estate Inc. Staple (NYSE:GRP.U) Rating Lowered to “Buy” at StockNews.com

StockNews.com downgraded shares of Granite Real Estate Inc. Staple (NYSE:GRP.U) from a strong-buy rating to a buy rating in a research note released on Wednesday.

Granite Real Estate Inc. Staple Stock Performance

Shares of Granite Real Estate Inc. Staple stock opened at $47.25 on Wednesday. The company’s 50 day moving average price is $51.46 and its two-hundred day moving average price is $53.83. The firm has a market capitalization of $2.96 billion and a P/E ratio of 13.20. Granite Real Estate Inc. Staple has a fifty-two week low of $46.75 and a fifty-two week high of $65.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 1.34.

Granite Real Estate Inc. Staple Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.1979 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Granite Real Estate Inc. Staple’s previous monthly dividend of $0.20. This represents a $2.38 annualized dividend and a yield of 5.03%. Granite Real Estate Inc. Staple’s dividend payout ratio (DPR) is currently 49.44%.

About Granite Real Estate Inc. Staple

Granite Real Estate Investment Trust is engaged in the ownership and management of predominantly industrial properties in Canada, the United States, Mexico and Europe. The Company owns and manages rental income properties. Its services include sourcing and real estate acquisition, site development, assisting with government approvals and re-zoning to specific uses, build-to-suit construction, property renovation, project management and long-term leasing.